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Fly News Breaks for October 29, 2018
WY
Oct 29, 2018 | 07:47 EDT
As noted earlier, DA Davidson analyst Steven Chercover upgraded Weyerhaeuser to Buy but lowered his price target to $35 from $37.50. The analyst attributes the rating change to valuation as the company's shares offer a "compelling dividend". Chercover also sees some "stabilization and potential rebound in commodity lumber and panel prices" acting as near-term positive catalysts for the stock. Chercover further notes that his two Buy signals are a discount to NAV in excess of 20% and a dividend yield exceeding 4%.
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